When the Reagan Library opened, it was the largest of the presidential libraries, at approximately 153,000 square feet (14,200 m2).[5] It held that title until the dedication of the William J. Clinton Presidential Center and Park in Little Rock, Arkansas, on November 18, 2004. With the opening of the 90,000-square-foot (8,400 m2) Air Force One Pavilion in October 2005, the Reagan Library reclaimed the title in terms of physical size;[7] however, the Clinton Library remains the largest presidential library in terms of materials (documents, artifacts, photographs, etc.).[8] Like all presidential libraries since that of Franklin D. Roosevelt, the Reagan Library was built entirely with private donations, at a cost of $60 million (equivalent to $137 million in 2015[9]).[5] Major donors included Walter Annenberg, Lew Wasserman, Lodwrick Cook, Joe Albritton, Rupert Murdoch, Richard Sills, and John P. McGovern.[6] For fiscal year 2007, the Reagan Library had 305,331 visitors, making it the second-most-visited presidential library, following the Lyndon B. Johnson Library; that was down from its fiscal year 2006 number of 440,301 visitors, when it was the most visited library.[10]

As a presidential library administered by the National Archives and Records Administration (NARA), the Reagan Library, under the authority of the Presidential Records Act, is the repository of presidential records for Reagan's administration.[11] Holdings include 50 million pages of presidential documents, over 1.6 million photographs, a half-million feet of motion picture film and thousands of audio and video tapes.[11] The library also houses personal papers collections including documents from Reagan's eight years as Governor of California.[11]

The museum features continually changing temporary exhibits and a permanent exhibit covering President Reagan's life. This exhibit begins during Reagan's childhood in Dixon, Illinois, and follows his life through his film career and military service, marriage to Nancy Davis Reagan, and political career.[12] The "Citizen Governor" gallery shows footage of Reagan's 1964 "A Time for Choosing" speech and contains displays on his eight years as governor. The gallery includes a 1965 Ford Mustang used by Reagan during his first gubernatorial campaign, as well as the desk he used as governor.[13] His 1980 and 1984 presidential campaigns are also highlighted, as well as his inauguration suit and a table from the White House Situation Room is on display. News footage of the 1981 assassination attempt on his life is shown, and information about the proposed Strategic Defense Initiative (SDI, dubbed "Star Wars") is included.[14]

A full-scale replica of the Oval Office—a feature of most presidential libraries—is a prominent feature of this museum as well.[15] Among the items Reagan kept on his desk was a 16 inches (41 cm) copy of a bronze statue of "Old Bill Williams", by B. R. Pettit; Williams was a renowned mountain man of Arizona.[16] Other parts of the exhibit focus on Reagan's ranch, the presidential retreat Camp David, life in the White House,[17] and First Lady Nancy Reagan.[18] The most recent temporary exhibit ran from November 10, 2007, to November 10, 2008; titled "Nancy Reagan: A First Lady's Style," it featured over 80 designer dresses belonging to Nancy Reagan.[19][20][21]

The hilltop grounds provide expansive views of the area, a re-creation of a portion of the White House Lawn, and a piece of the Berlin Wall. An F-14 Tomcat (BuNo 162592) is also located on the grounds.

On November 8, 2007, Reagan Library National Archives officials reported that due to poor record-keeping, they are unable to say whether approximately 80,000 artifacts have been stolen or are lost inside the massive museum complex.[22] A "near-universal" security breakdown was also blamed, leaving the artifacts vulnerable to theft. Many of the nation's presidential libraries claim to be understaffed and underfunded.[23] NARA labeled the Reagan Library as having the most serious problems with its inventory.[23] In an audit, U.S. Archivist Allen Weinstein blamed the library's poor inventory software for the mishap. Frederick J. Ryan Jr., president of the Ronald Reagan Presidential Foundation's board of directors, said the allegations of poor management practices at the library reflect badly on the National Archives.[22] The library has undertaken a massive inventory project that will take years to complete.[23]

A 90,000-square-foot (8,400 m2) exhibit hangar serves as the setting for the permanent display of the Boeing 707 aircraft utilized as Air Force One during Reagan's administration.[24] The aircraft, SAM 27000, was also used by six other presidents in its active service life from 1973 until 2001, including Richard Nixon during his second term, Gerald Ford, Jimmy Carter, George H.W. Bush, Bill Clinton, and George W. Bush.[25] In 1990, it became a backup aircraft after the Boeing 747s entered into service and was retired in 2001.[25] The aircraft was flown to San Bernardino International Airport in September 2001, where it was presented to the Reagan Foundation. In what was known as Operation Homeward Bound, Boeing, the plane's manufacturer, disassembled the plane and transported it to the library in pieces.[26] After the construction of the foundation of the pavilion itself, the plane was reassembled and restored to museum quality,[26] as well as raised onto pedestals 25 feet (7.6 m) above ground.[27] The pavilion was dedicated on October 24, 2005, by Nancy Reagan, President George W. Bush and First Lady Laura Bush.[28]

SAM 27000 is part of a comprehensive display about presidential travel that also includes a Johnson-era Sikorsky VH-3 Sea King, call sign Marine One,[29] and a presidential motorcade—Reagan's 1984 presidential parade limousine, a 1982 Los Angeles Police Department police car (as well as two 1980s police motorcycles), and a 1986 Secret Service vehicle used in one of President Reagan's motorcades in Los Angeles.[30] The pavilion is also home to the original O'Farrell's pub from Ballyporeen in the Republic of Ireland that President and Mrs. Reagan visited in June 1984, now called the "Ronald Reagan Pub."[29] Also featured are exhibits on the Cold War and Reagan's extensive travels aboard Air Force One.

On June 9, 2008, Secretary of Education Margaret Spellings joined Nancy Reagan to dedicate the Reagan Library Discovery Center, located in the Air Force One Pavilion. The center is an interactive youth exhibit in which fifth through eighth grade students participate in role-playing exercises based on events of the Reagan administration.[31]

The pavilion has been used on several occasions as the venue for televised Republican Party primary-related debates (see below).

Ronald and Nancy Reagan's tomb and memorial site on the Library grounds

Following his death, Reagan's casket was driven by hearse to the Reagan Library on June 7, 2004 from Point Mugu through a 25-mile-per-hour (40 km/h) procession down Las Posas Road to U.S. Highway 101. Many people lined the streets and freeway overpasses to pay final respects. A memorial service was held in the library lobby with Nancy Reagan, Reagan's children, close relatives, and friends. The Reverend Dr. Michael Wenning officiated at the service.

From June 7 to 9, Reagan's casket lay in repose in the library lobby, where approximately 105,000 people viewed the casket to pay their respects.[34] After flying the body to Washington, D.C., lying in state in the Capitol rotunda, and a national funeral service in the Washington National Cathedral, Reagan's casket was brought back to the library in California for a last memorial service and interment.

Construction plans for the library included a tomb for the eventual use of Reagan and his wife. Following a sunset service on the library grounds the previous evening, early on the morning of June 12, 2004, Reagan was laid to rest in the underground vault.[35]

On January 30, 2008, after the Republican candidates were narrowed to four—Mitt Romney, Mike Huckabee, Ron Paul, and John McCain—the library was the scene of the final GOP debate, once again hosted by the Reagan Foundation and Mrs. Reagan.[37]

The library announced that it would once again host the first Republican primary debate of future 2012 Republican candidates on May 2, 2011. The debate was co-hosted by NBC News and Politico.[38] The debate took place on September 7, 2011.

In September 2015, the library hosted the second Republican presidential debate of the 2015-2016 cycle, run by CNN.[39] 15 candidates took part in two sessions.

The Ronald Reagan Presidential Foundation and General Electric (GE) announced a partnership beginning March 17, 2010, to support the two-year-long celebration of President Reagan's 100th birthday on February 6, 2011. GE, for whom Reagan hosted General Electric Theater and served as a goodwill ambassador from 1954 to 1962, prior to being elected Governor of California, served as the Presenting Sponsor of the historic Reagan Centennial Celebration.[40]

$10 million in the form of cash, advertising and promotion to support the Ronald Reagan Centennial Celebration, including funds to support the completely transformed, state-of-the-art museum at the Reagan Library that will be unveiled on February 5, 2011. This will include a new General Electric Theater that will focus on Reagan's career in radio, television, and film.

An additional $5 million to the Reagan Presidential Foundation to launch and support the GE–Reagan Scholars Program, an effort that will begin in 2011 and that will provide 200 four-year college scholarships over the next decade to "students who embody the vision and values personified by President Reagan."

A donation from GE/NBC Universal to the Reagan Foundation of 208 restored episodes of General Electric Theater in which Ronald Reagan hosted or appeared from 1954 until 1962. The episodes, many of which were thought to be lost and some of which were damaged, were recently uncovered and restored to broadcast quality for purposes of the renovated Reagan Museum.

An ad campaign and interactive Internet presence on GE's web site to promote the centennial and celebrate Reagan's political career and time with GE.

A series of public affairs lectures with Reagan-era luminaries that focused on Reagan's legacy.